THE NEXT ICE AGE - NOW!

Updated 14 November 2005

Fuel Prices Soar in
UK

-
3 Nov 05 - Gas
and electricity prices soared 70 per cent last week as traders worried that the
UK
's utility network will be unable to cope with the winter's first real cold snap
and the closure of a gas terminal. Utility bills have already increased by about
20 per cent over the past 18 months.

Craig Lowrey, from EIC, an energy consultancy, said that there was more market
nervousness than normal about how the gas pipeline network could cope this
winter. Falling gas reserves in the North Sea mean that the
UK
needs to import more gas from mainland
Europe
, but enough new pipelines to transport this gas will not be ready for several
years. "There is a fear that gas supplies from the Continent cannot be
relied upon," said Mr Lowrey.